Spotlight on Devon George-Eghdami

What's behind JP Morgan's decision to combine the prime brokerage and custody units?

JP Morgan has been active in security services for quite some time, and with the acquisition of Bear Stearns, JP Morgan now has that firm's prime brokerage business. Bear Stearns had been in the prime brokerage business for 10 years, and had developed an excellent franchise among hedge funds and non-traditional asset managers.

So over the past 18 months, JP Morgan noticed a convergence of needs among a spectrum of